The 2009 Kirkwood real estate sales results are in!
As many homeowners across the Metro Atlanta area know, the last few years have been quite challenging for our local real estate market. Thankfully, the popular intown Atlanta neighborhoods haven't been hit quite as hard.
THE NUMBERS AT A GLANCE...
|# Homes Sold||176||152||147||129|
|Average List Price||$260,722||$279,130||$248,029||$233,780|
|Average Sale Price||$252,931||$271,446||$238,098||$222,198|
|% of List to Sale price||97.00%||97.20%||96.00%||95.40%|
|# Days on Market||62||61||66||63|
Information retrieved from First MLS (FMLS) on 01/04/2010 and is believed to be accurate but is not guaranteed.
SO WHAT DO THE NUMBERS ACTUALLY MEAN TO YOU?
DISTRESSED HOME SALES -- 20% of the homes sold in Kirkwood were foreclosures, which was actually a 35% decline from 2008. The number of short sales increased by almost 30% year over year. This tells us that many homeowners who are in financial distress have a better understanding of the options available to them and are contacting a real estate consultant to do a short sale INSTEAD of just letting their homes go into foreclosure.
KIRKWOOD HOME PRICES - The average home price in Kirkwood spiked in 2007, partially due to a higher number of new construction home sales, high-end bungalow renovations, and the completion of the new Kirkwood Village. The average list price AND the average sale prices in Kirkwood were much lower in 2008 due in part to the higher number of foreclosure homes. In 2009, the average home price was only $222K -- $16K less than 2008 -- due in part to the short sales and foreclosures in the neighborhood.
** In my personal experience, homes that were priced correctly (under $275,000), still had first time home buyers competing for the home. Many homes had multiple offers in 2009.
LIST TO SALE PRICE RATIO (i.e.How much did the seller's reduce their listing price?) -- Kirkwood homes sold at 95.3% of the list price in 2009. The list to sale price ratios have been steadily declining over the last few years as sellers try to adjust their mindset that the home values we declining.
HOW LONG DID IT TAKE HOMES IN KIRKWOOD TO SELL? The number of days that a Kirkwood home was on the market has also remained fairly stable over the last four years, which is a good sign for the upcoming year. If you are thinking about selling your home in Kirkwood - or any neighborhood - it is so important to price you home correctly the FIRST time. In Metro Atlanta, homes that were priced correctly the first time sold in less than 30 days - those homes that had to reduce their price took more than 250 days to sell.
If you have any questions about the sales data or if you would like to understand what your Kirkwood Atlanta home is worth in today's market, please call anytime at (404) 432.1844 or email me.
Call anytime @ 404.432.1844
In & Around Atlanta Real Estate Blog - Copyright 2006 - 2014 by Kerry Lucasse and the Nest Atlanta team with eXp Realty Atlanta. All information contained in this blog is deemed to be reliable but not guaranteed. If you need assistance with Intown Atlanta real estate, Kerry Lucasse and the Nest Atlanta Real Estate Group are always available to assist you with your residential real estate needs!
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